Are you dreaming of becoming an entrepreneur? While it’s not necessarily the right career path for everyone, it is becoming increasingly popular. To increase your chances of success, there are some essential habits every successful entrepreneur should develop.
After studying entrepreneurs for many years and being one most of my life, here are four of those essential traits you should focus on if you want to join the ranks of successful entrepreneurs.
Habits of Successful Entrepreneurs
If you want to start and grow a business, persistence is essential. Short of parenthood, entrepreneurship is the biggest roller coaster ride on the planet. If you’re not in it for the whole ride, it’s best not to board. Your business will have ups and downs. There will be risk. You will face challenges you haven’t yet imagined. But if you will develop the habit of persistence, hang on and see it through, you’ll be rewarded with a successful business.
Shiny object syndrome can be the kiss of death for an entrepreneur. You need to focus on your goals and not be distracted by all the other possibilities and opportunities that will inevitably pop up. This isn’t to say you need to ignore them forever. Keep a journal and write down all those ideas that sound so amazing so you won’t forget them. And then get back to work. The key to success in business is to focus on and follow through with your business. If you are constantly jumping from thing to thing and idea to idea, you aren’t giving yourself a chance to succeed. Focus on your goal and don’t take your eyes off the prize until you reach it.
Make a decision. Stop waffling. Stop playing what if. Often in the business world, an opportunity will arise. Opportunity rarely waits around for you to ponder on whether or not it’s for you. In addition to opportunities, other situations will arise in your business where waffling and prolonged pondering can lead to disaster—or at least to a whole lot more stress and difficulty than you would have had if you had just made a decision. Quickly do the research, evaluate the issue and decide.
Will you sometimes make the wrong decision? Yes. It’s inevitable. But not making a decision is almost never the right decision. Make the decision. Move forward. If it’s the wrong decision you’re likely to know that in fairly short order. Once you know that, you can make a better decision. The key to moving your business forward is to be decisive. Consult who you need to consult, make the decision and keep your business moving. Being able to be decisive and own your decisions is one of the key habits of a successful entrepreneur.
Be a Lifelong Learner
As soon as you assume you know everything you need to know about your industry or running your business, you will stop advancing. One of the great joys of entrepreneurship is that there is always something new to learn. Whether it’s changes in your industry—and every industry has changes—or whether it’s new marketing techniques, technology developments, communication improvements or general business knowledge, being open and willing to continue educating yourself is essential to entrepreneurial success and professional and personal satisfaction.
How are you doing with these four habits? Have you mastered them yet or do you still have a ways to go? And are there any habits you would add to this list? I’d love to hear your list of essential habits of successful entrepreneurs, so share with me in the comments.